ASA stays in the red despite R3m boon

Athletics SA (ASA) posted a R3-million surplus for 2015 - thanks largely to an accounting correction on the previous year's books - but that barely made a dent on the cash-strapped federation's accumulated deficit, which sits at R13.2-million. The annual report for 2015, to be submitted for discussion at ASA's annual general meeting on July 2, highlights that total liabilities outstrip its assets by R12.